Agree with Because, DONT DO IT.
By the sounds of it, its not your job, postpone the meeting or go into the meeting and say we were hoping to give you some news today, but cannot because bossman is ill, so when he is back, we'll do it.
your boss is being a coward and you should not be dumped upon. It should go UP the chain, not DOWN. Speak to the MD, or better still email him and speak to him/her telling him you want him / her to do this.